FSA $2,500 Limit Applies to 2012 Fisical Plan Year Plans Although most Internal Revenue Code (IRC) Section 125 plans (Cafeteria Plans) are calendar year plans, there are some plans that are fiscal years plans (e.g. February 1 – January 31). To the delight of tax lawyers everywhere, the IRC contains traps for the unwary! In … Continue Reading
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Once and Foll All – For Now Ever since the Affordable Care Act (HCR) became law, the HCR W-2 reporting rules have confused even the best and the brightest. At one point, there even was a rumor that employer-sponsored health care coverage would now be taxable (and it is not). The IRS Notice 2011-28 provides … Continue Reading
Did you know that rates of prescription drug abuse in the U.S. are alarmingly high? More Americans currently abuse prescription drugs than the number of those using cocaine, hallucinogens, and heroin combined. And did you know that studies show that a majority of abused prescription drugs are obtained from family and friends, including the home … Continue Reading
Effective September 1, 2011 Standford Hospital and Clinics has terminated their contract with Anthem Blue Cross. If you are an Anthem Blue Cross member currently receiving treatment at a Stanford facility, download the PDF to see how you may be effected.
As you may recall, the Patient Protection and Affordable Care Act (PPACA) requires all non-grandfathered group health plans, whether insured or self-insured, to provide a panoply of preventive care services to all plan participants including Medicare-eligible individuals. On July 19, 2010, the three agencies in charge of producing regulations (Departments of Treasury, Labor, and Health … Continue Reading
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**IMPORTANT** Effective January 1, 2011 Beginning January 1, 2011 an individual participating in a flexible spending account (FSA), health reimbursement arrangements (HRA) or health savings account (HSA) will no longer be able to use tax-advantage money for the reimbursement of over-the-counter medications that are not prescribed by a doctor. This change does not affect insulin, … Continue Reading
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A major goal of the Affordable Care Act – the health insurance reform legislation President Obama signed into law on March 23 – is to put American consumers back in charge of their health coverage and care. Insurance companies often leave patients without coverage when they need it the most, causing them to put off … Continue Reading
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Interim final rules on the dependent coverage of children to age 26 under the Patient Protection and Affordable Care Act were released May 10, 2010. The regulation is available at: www.dol.gov/ebsa/pdf/dependentcoverage.pdf The fact sheet is available at: www.dol.gov/ebsa/newsroom/fsdependentcoverage.html Frequently Asked Questions are available at: www.dol.gov/ebsa/faqs/faq-dependentcoverage.html
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The White House Office of the Press Secretary For Immediate Release Rising costs have made it difficult for employers to provide quality, affordable health insurance for workers and retirees while also remaining competitive in the global marketplace. Many Americans who retire without employer-sponsored insurance and before they are eligible for Medicare see their life savings … Continue Reading
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